RWC Asset Management LLP Has $42.83 Million Position in Molson Coors Beverage (NYSE:TAP)

RWC Asset Management LLP raised its stake in Molson Coors Beverage (NYSE:TAP - Free Report) by 17.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 747,184 shares of the company's stock after purchasing an additional 113,091 shares during the quarter. Molson Coors Beverage makes up about 2.1% of RWC Asset Management LLP's portfolio, making the stock its 11th biggest holding. RWC Asset Management LLP owned 0.36% of Molson Coors Beverage worth $42,829,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Clark Estates Inc. NY grew its stake in Molson Coors Beverage by 18.1% in the third quarter. Clark Estates Inc. NY now owns 60,000 shares of the company's stock valued at $3,451,000 after purchasing an additional 9,200 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Molson Coors Beverage by 1.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company's stock valued at $2,046,000 after buying an additional 563 shares during the last quarter. Wilsey Asset Management Inc. lifted its position in shares of Molson Coors Beverage by 1.6% in the fourth quarter. Wilsey Asset Management Inc. now owns 550,539 shares of the company's stock valued at $31,557,000 after buying an additional 8,679 shares during the last quarter. Qsemble Capital Management LP lifted its position in shares of Molson Coors Beverage by 23.5% in the third quarter. Qsemble Capital Management LP now owns 48,474 shares of the company's stock valued at $2,788,000 after buying an additional 9,234 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Molson Coors Beverage by 4.7% in the third quarter. Principal Financial Group Inc. now owns 211,812 shares of the company's stock valued at $12,183,000 after buying an additional 9,510 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Bank of America raised Molson Coors Beverage from a "neutral" rating to a "buy" rating and raised their price objective for the company from $57.00 to $70.00 in a research report on Friday, December 6th. Needham & Company LLC reissued a "buy" rating and set a $72.00 price target on shares of Molson Coors Beverage in a report on Wednesday, February 12th. JPMorgan Chase & Co. dropped their price target on Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating for the company in a report on Thursday, January 30th. Barclays lifted their price target on Molson Coors Beverage from $48.00 to $56.00 and gave the stock an "underweight" rating in a report on Tuesday, February 18th. Finally, Hsbc Global Res cut Molson Coors Beverage from a "hold" rating to a "moderate sell" rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Molson Coors Beverage has an average rating of "Hold" and a consensus target price of $63.27.

Molson Coors Beverage Price Performance

Shares of TAP traded down $0.55 during midday trading on Thursday, hitting $61.51. The company's stock had a trading volume of 2,175,349 shares, compared to its average volume of 2,077,472. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18. The company's fifty day simple moving average is $56.60 and its two-hundred day simple moving average is $56.82. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $12.50 billion, a price-to-earnings ratio of 11.50, a price-to-earnings-growth ratio of 1.52 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.13. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. As a group, equities analysts expect that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a yield of 3.06%. This is a positive change from Molson Coors Beverage's previous quarterly dividend of $0.44. Molson Coors Beverage's payout ratio is currently 35.14%.

Molson Coors Beverage Company Profile

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers flavored malt beverages including hard seltzers, craft, spirits and energy, and ready to drink beverages.